Friday, February 12, 2010

Chinese investor looks at oil palm for biofuel

A Chinese investor is looking at opportunities in oil palm development and management of oil palm plantations for biofuel (diesel).

The company, ZTE Agribusiness Company Ltd, believes PNG can become the next location for its quest for expansion of oil palm plantation development and management.

Papua New Guinea has massive land available as well as the climate being conducive for oil palm development.

Two senior executives of the Chinese company recently held discussions with the Department of Agriculture and Livestock, Investment Promotion Authority and relevant government agencies.

ZTE Agribusiness Company Ltd is a subsidiary of ZTE, one of the biggest telecommunication companies in the People’s Republic of China.

It has recently diversified into agri-business activities and currently has developed thousands of hectares of oil palm plantation in Congo, Indonesia and Laos.

The company is interested in PNG because of the vast potential of its agriculture sector.

Company executives Chen Long and Ran Ran met DAL’s acting director for policy and planning, Ian Mesibere, to discuss their proposal as well as seek more information on government policies, procedures and issues relating to agro-forestry investment and agribusiness.

Mr Mesibere, on behalf of the DAL Secretary, welcomed the officials and outlined the role and responsibilities of DAL as well as the Oil Palm Industry Corporation.

He spoke on a number of issues including land tenure system, state and customary land, joint venture arrangements, environment and delivery of agricultural services.

He also highlighted the existing and proposed oil palm development in various parts of the country.

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